Intuit brings mobile payments offer to UK

Payments company Intuit has launched its a new app and card reader, allowing businesses to take payments through a smartphone.

The iOS app and cip and PIN readers are available for free for a limited time. Businesses who receive transactions through the service must pay 2.75% of it to Intuit but the company is not charging a monthly fee or imposing a minimum commitment. From next month, the service will also connect with Intuit's QuickBooks accounting service.

Terry Hicks, vice president of products for Intuit’s global business division, said: 'Intuit Pay solves an important problem for the millions of small businesses and trades people in the UK who don’t currently accept card payments and so miss out on sales or prompt payment as a result. Current solutions are either too expensive, demand long-term contracts or simply don’t work where businesses need them. Intuit Pay changes the game, providing an easy, low-cost way for anyone to accept card payments anywhere.'

Intuit said it processes more than $37bn of payments per year in the United States through desktop, web and mobile services.